The company net loss narrowed to $194.3 million, or 95 cents a share, from $359.6 million, or $2.91 a share, in the same period one year earlier. The 2012 figure included a $258.3 million impairment charge. The adjusted loss per share, excluding items, was 28 cents, narrower than the 45 cents from the same period a year ago. Analysts expected a loss of 29 cents a share, according to Thomson Reuters I/B/E/S.
Revenue fell 8% to $123.8 million for the quarter, while analysts expected $150.63 million.
TheStreet Ratings team rates MOLYCORP INC as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate MOLYCORP INC (MCP) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and generally disappointing historical performance in the stock itself."